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☆ It looks like the party's over for luxury goods in China
▼ + stars: | 2024-07-17 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Read previewHugo Boss, Burberry, Richemont, and Swatch have all called out slumping sales in China this week as consumers cut back on luxury spending. Swiss watch group Swatch said it expects the Chinese market "to remain challenging for the entire luxury goods industry until the end of the year." But much of this spending has been overseas, and sales in China have fallen for some of the world's biggest luxury brands. AdvertisementBefore the pandemic, about two-thirds of Chinese luxury spending occurred outside mainland China, plummeting to less than 10% in 2021 and 2022 because of travel restrictions, according to data from Bain. The consultancy said that this started to rebound in 2023 with the return of overseas tourism, with an estimated 30% of luxury spending taking place outside mainland China.

Persons: —, Hugo Boss, Burberry, Gerry Murphy, they've, Bain, Luca Solca, Vacheron Constantin, Marc Jacobs, Versace, Richemont Organizations: Service, Swatch, Business, Bain & Company, Richemont, Cartier, Burberry, Financial Times, Bain, Prada, The Financial Times, Luxury Summit Locations: China, Swiss, Americas, Hong Kong, Macau, Japan, South Korean, East

☆ China: A spate of stabbings has sparked online debate about country’s economic woes
▼ + stars: | 2024-07-17 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

But China has been rocked by a number of high-profile stabbing cases in recent decades, including multiple such attacks at schools. These worries were clear on Chinese social media after the latest attacks, with several commentators connecting China’s dire economic circumstances to the violence, even as the attackers’ motives remained unclear. Rare violent crimeTwo of the most high-profile recent attacks came in June – and both targeted foreign nationals. Video Ad Feedback Four Americans are stabbed in a shock attack in China 04:20 - Source: CNNUltra-nationalism has risen across China and Chinese social media in recent years, as has anti-American and anti-Japanese sentiment. On social media, the belief that economic insecurity is making the country less safe remains palpable.

Persons: “, haven’t, China –, Michelle Miao, ”, Mao Ning, Adam Zabner, David Zabner, Adam, Stabbings, Miao, CUHK Organizations: Hong Kong CNN, Chinese University of Hong, Stanford University’s Center, Behavioral Sciences, CNN, Ministry of Public Security, World Bank, United Nations Office, Drugs, Americas, Xinhua, Youth Locations: Hong Kong, China, Guangxi, Weibo, ”, Chinese University of Hong Kong, –, Iowa, Beishan Park, Jilin, Asia

☆ Giant armadillo fossil reveals humans were in South America a surprisingly long time ago
▼ + stars: | 2024-07-17 | by ( Katie Hunt | ) edition.cnn.com time to read: +5 min

Instead, the team determined that the shape of the cut marks was consistent with those made by stone tools. “The cut marks were not randomly distributed but focused on those skeletal elements that harbored large muscle packs like the pelvis and the tail,” he said. A detailed examination of cut marks on the fossils revealed they were made by stone tools in a deliberate sequence. Along with three perforated giant sloth bones found in Brazil that archaeologists believe humans used as pendants 25,000 to 27,000 years ago, the butchered armadillo bones suggest that humans were in South America a surprisingly long time ago. “Until recently, the traditional model indicated that humans entered the continent 16,000 calendar years ago,” he said.

Persons: CNN —, —, ”, Miguel Delgado, ” Delgado, Delgado, Miguel Eduardo Delgado et, “, paleoanthropologist Briana, Pobiner, wasn’t Organizations: CNN, National University of La, Smithsonian National Museum of, North Locations: what’s, Argentina, Americas, National University of La Plata, Buenos Aires, Merlo, Washington ,, North, South America, Africa, New Mexico, North America, New York City, Cincinnati, Des Moines , Iowa, Asia, Alaska, Brazil

☆ Here are 6 buying categories cheaper today than they were before the pandemic
▼ + stars: | 2024-07-16 | by ( Gabriel Cortés | ) www.cnbc.com time to read: +3 min

So when worldwide events like the Covid-19 pandemic push inflation well above that 2% target, it can be a real shock to consumers. There are a handful of retail categories, dominated by consumer electronics, that buck the trend and are actually cheaper now than they were before the pandemic, based on a CNBC review of CPI categories in June 2024 compared with June 2019. Same price, better valueEven when annual inflation was at its peak, prices for consumer electronics consistently showed signs of deflation. Such hedonic adjustments — the term BLS uses to describe it's adjustments for changes in item quality — span the whole consumer price index and include categories from men's underwear to home computers to refrigerators. Why televisions continue to be cheapBut hedonic adjustments can't account for everything when the CPI is registering drops in prices.

Persons: it's, Andrew Csicsila, That's, Csicsila Organizations: U.S . Federal Reserve, U.S . Bureau of Labor Statistics, CNBC, CPI, Bureau of Labor Statistics Locations: Americas

☆ The Fed will now focus on unemployment and labor markets, says Charles Schwab's Omar Aguilar
▼ + stars: | 2024-07-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will now focus on unemployment and labor markets, says Charles Schwab's Omar AguilarOmar Aguilar, Schwab Asset Management CEO, and Deepak Puri, Deutsche Bank Wealth Management Americas CIO, join 'Closing Bell: Overtime' to discuss the election's impact on the markets.

Persons: Charles Schwab's Omar Aguilar Omar Aguilar, Deepak Puri Organizations: Schwab Asset Management, Bank Wealth Management

☆ Mediterranean diet found to improve children’s heart health, study finds
▼ + stars: | 2024-07-15 | by ( Taylor Nicioli | ) edition.cnn.com time to read: +6 min

CNN —The Mediterranean diet has been linked to many health benefits for adults. Now, a new study suggests it could be beneficial to children’s heart health as well. Here’s how parents and guardians could help their children benefit from the Mediterranean eating plan, according to experts. The Mediterranean diet is a way of eating that includes plant-based cooking with an emphasis on healthy fats. “The growing research shows the value (in the Mediterranean diet) to be the same for children and adolescents (as in adults),” Muth said.

Persons: ”, José Francisco López, Gil, Stuart Berger, Robert H, Lurie, Berger, Natalie Muth, Muth, Tamara Hannon, Hannon, “, ” Berger, ” Muth Organizations: CNN, JAMA, Health Research, University of, Ann, Lurie Children’s Hospital of Chicago, American Academy of Pediatrics, Care Medical Group, Northwestern University’s Feinberg School of Medicine, Riley Hospital for Children, Indiana University Health, Indiana University School of Medicine Locations: Americas, Quito, Ecuador, San Diego, Chicago, Indianapolis

☆ Burberry shares drop 11% after the luxury giant issues profit warning and replaces CEO
▼ + stars: | 2024-07-15 | by ( Katrina Bishop | ) www.cnbc.com time to read: +1 min

Shares in Burberry plunged 11% in early trading on Monday after a disappointing first-quarter performance led it to issue a profit warning, replace its CEO and axe its dividend. The luxury giant said that if the recent trading slowdown continues, it expects to report an operating loss for the first half of this year and full-year operating profit below current consensus. It also suspended its dividend and named Joshua Schulman — who formerly led Michael Kors and Coach — as new CEO. Jonathan Akeroyd is stepping down "with immediate effect by mutual agreement with the Board," the company added. Burberry said comparable store sales fell 21% in the 12 weeks to June 29, with retail revenue coming in at £458 million for the period.

Persons: Joshua Schulman —, Michael Kors, —, Jonathan Akeroyd, Burberry, Gerry Murphy Organizations: Burberry, Asia Pacific Locations: EMEIA, Europe, East, India, Africa, Americas

☆ Copa América final 2024: Can Colombia continue historic unbeaten run and upset Argentina?
▼ + stars: | 2024-07-14 | by ( Matias Grez | ) edition.cnn.com time to read: +4 min

CNN —Sunday’s Copa América final will likely be the last time Lionel Messi plays for Argentina at a major international tournament. As was the case in the 2021 Copa América win, which ended an 18-year trophy drought for the national team, this run has felt like a real team effort. “It’s a national team with really good players, is very intense and has fast and dynamic players up front. Buda Mendes/Getty ImagesFor Colombia, the resurgence of James Rodríguez has proven to be crucial not only throughout the unbeaten run, but in particular during this Copa América. Colombia, remarkably, last reached the final in 2001 and the trophy from that year remains the only Copa América title in the country’s history.

Persons: CNN —, Lionel Messi, Messi, ”, hasn’t, – Messi, Ángel Di María, “, Colombia hasn’t, ” Messi, Fox Argentina, It’s, it’s, we’ve, James, Colombia James Rodriguez, Buda Mendes, James Rodríguez, Néstor Lorenzo, Rodríguez, América –, –, “ I’ve, ” Rodríguez, TyC, Rodríguez – Organizations: CNN, Copa América, Argentina, La, Canada, Uruguay, Fox, Optus Sports, América, Argentine, Real Madrid, TyC Sports, Panama, Los Locations: Colombia, Buda, Real, Blancos, Brazil, Americas

☆ Trump's shooting puts scandal-plagued Secret Service under the biggest microscope yet
▼ + stars: | 2024-07-14 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +8 min

Read previewThe Secret Service has been at the center of scandals in recent years. AdvertisementTrump's ear was pierced by a bullet; a rallygoer near the president was killed before Secret Service agents shot and killed the would-be assassin. US Secret Service agents stayed at this hotel in Cartagena, Colombia, when several agents were found to have solicited prostitutes ahead of then-President Barack Obama's visit. Two Secret Service agents, who had 'likely' been drinking, crashed a car on the White House grounds. Secret Service later apprehended him.

Persons: —, indiscretions, Donald Trump, Trump, Joe Biden, Biden, Sunday he's, Mike Johnson, Mark Green, Alejandro Mayorkas, Reagan, Barack Obama's, Manuel Pedraza, Obama's, Obama, Carol D, Leonnig, Mark Sullivan, Omar J, Gonzalez, Barack Obama, Julia Pierson, Pierson, Marc Connolly, John Roth, Connolly, George Ogilvie, Jonathan T, Tran, Mike Pence, Pence Organizations: Service, Business, Secret, Sunday, Republican, Homeland Security, Tennessee Republican, Homeland, Homeland Security Department, Secret Service, Getty, Agents, NPR, House, White House, The New York Times, Presidential, Division, Guardian, CNN, White, The Washington, Capitol Locations: Pennsylvania, Tennessee, Cartagena , Colombia, AFP, Colombia, Americas, USSS, Washington, DC

Unsubstantiated claims about what took place at Saturday’s rally in Butler, Pa., immediately flooded social media after former President Donald J. Trump was carried off the stage after shots were fired. Without providing proof, the social media posts blamed shadowy figures on the left for targeting Mr. Trump, and built on ideas circulated by Mr. Trump that the “deep state,” or a cabal within the government, was seeking to stop him from returning to office. The unverified claims surfaced on platforms including Gab, Truth Social and Parler, which are favored by the far-right, as well as on X, Telegram, Facebook and Instagram. “Watch for emotional language.”Law enforcement officials will require time to investigate what happened at the rally. Video from the event appears to show Mr. Trump falling to the stage and bleeding from his ear before being escorted away by Secret Service agents.

Persons: Donald J, Trump, ” Roberta Braga Organizations: Mr, Facebook, Digital Democracy Institute of, “, Secret Service Locations: Butler, Pa

☆ Women are set to inherit trillions of dollars in the great 'horizontal wealth transfer'
▼ + stars: | 2024-07-12 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

Up to $9 trillion is expected to be passed along to spouses and partners in the coming years as part of what's being called "the horizontal wealth transfer," according to a new report. Yet because surviving spouses and partners typically get the initial inheritances, and because women typically outlive men, bequests in the coming years will largely go to women, according to the UBS Global Wealth Report. UBS calls it the "horizontal wealth transfer," since the wealth is moving intra-generationally rather than intergenerationally. "Most people have a rather feudal idea of wealth going down through generations," said Paul Donovan, chief economist of UBS Global Wealth Management. According to the report, the largest horizontal wealth transfers will be in the Americas.

Persons: Paul Donovan Organizations: UBS Global Wealth, UBS, UBS Global Wealth Management Locations: what's, Americas

☆ ‘Even Jordan doesn’t have his face on a sneaker’: How Stan Smith became both a tennis and fashion icon
▼ + stars: | 2024-07-11 | by ( Matias Grez | ) edition.cnn.com time to read: +11 min

CNN —Depending on your age, the name Stan Smith probably means one of two things. Even Jordan doesn’t have his face on a sneaker.”Stan Smith during his victorious 1972 Wimbledon run. The rise in popularity of the Stan Smith sneaker coincided with a slump towards the end of his tennis career and it began permeating a wide array of cultures in the UK and US. “It was one of my goals to win that tournament,” Smith says. Stan Smith, Ilie Năstase and Tom Okker at a meeting of the Association of Tennis Professionals (ATP) in London, 20th June 1973.

Persons: Stan Smith, ” Smith, “, it’s, ”, Cari, Jordan doesn’t, ” Stan Smith, Danny Lee, Smith, that’s, Stan Smith sneaker, David Bowie, ’, Pharrell Williams, Robert Haillet sneaker, Nicolas Armer, Horst Dassler, Donald Dell, Adidas Robert Haillet, Gary Aspden, ” Arthur Ashe, Arthur Ashe, Henry Burroughs, Ashe, ” Dell, Lyndon Johnson, Ashe couldn’t, Bob Lutz, LeBron James ’, Dell, Martin Luther King Jr, Tony Duffy, Allsport, Ashe’s, Arthur, ” Lee, Smith’s, Mark Mathabane, Marjory, Mathabane, Roger Jackson, wasn’t, Niki Pilić, Pilić, Smith –, Ilie Năstase, Tom Okker, Michael Webb, Stan Organizations: CNN, Adidas, Wimbledon, Hulton, Beastie Boys, Davis, Pasadena Tennis, US Davis, USA, Los Angeles Tennis Club, Americas, Civil, wouldn’t, Star ”, South, University of South, Central Press, International Tennis Federation, ‘, Yugoslav Tennis Association, Tennis, Association of Tennis Professionals, Keystone Locations: Young, Paris, USA, French, Wimbledon, Pasadena , California, Pasadena, American, Mexico, America, Vietnam, Houston , Texas, United States, South Africa, Beverly Hills, Soweto, Alexandria, South African, Johannesburg, University of South Carolina, ‘, London, ’

His mother was addicted to drugs; he never knew his father. He grew up shuttling among foster homes, where he started drinking beer around age 5 and smoking marijuana at age 9. At age 17 he watched a drunk friend kick a dog off a cliff and knew he had to escape. Henderson found that these ideas came to serve as status symbols for the privileged while they, ironically, kept the working class down. He came to call these ideas luxury beliefs.

Persons: Robert Putnam, “ Rich, ” Rob Henderson, Henderson, Bill, Foster Organizations: Harvard, Air Force, Yale, Cambridge, Foster Care Locations: Americas

☆ 5 ways investors can hedge against under-the-radar threats to this 'Goldilocks' market, according to a leading UBS strategist who saw this rally coming
▼ + stars: | 2024-07-10 | by ( James Faris | ) www.businessinsider.com time to read: +9 min

He reasoned that while higher interest rates were a concern, solid earnings growth would keep stocks afloat. Since then, the S&P 500 has rallied 11.1% off its early May lows and extended its year-to-date surge to 16.9%. Since UBS GWM is neutral on US stocks, Lefkowitz recommends that investors keep their expectations in check and look for alternatives. Though not flashy, bonds boast attractive yields and should continue to rally if the Fed cuts rates this fall, according to UBS GWM. "We think investors should position for a lower interest rate environment and buy quality bonds, which have attractive yields and the potential for capital appreciation amid the potential for a deeper easing cycle," Marcelli wrote in the note.

Persons: —, it's, David Lefkowitz, who's, Lefkowitz, We'll, that's, Donald Trump, Joe Biden, UBS GWM, seconding, Solita Marcelli, Marcelli, Trump Organizations: Service, UBS Global Wealth Management, UBS GWM's, Business, UBS GWM, Federal, Nvidia, UBS, White Locations: Washington

☆ Hedge funds post mediocre first-half performance with some big names only up single digits
▼ + stars: | 2024-07-09 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

So far this year, hedge fund managers have failed to beat the S & P 500 , one of the cheapest, easily available investment vehicles for ordinary investors. Hedge funds returned just 5% in the first half of the year after a 0.2% loss in June, with event-driven strategies the biggest laggards, according to data firm HFR. The performance may come as a disappointment as hedge funds often tout star stock pickers and niche strategies to justify their high fees. Hedge funds typically charge a 2% management fee on the total assets under management plus a performance fee of 20% of the fund's profits. Goldman Sachs' prime brokerage data showed hedge funds have been rotating out of tech stocks, especially winning chipmakers over the past few weeks, while pouring into financial stocks and commodities.

Persons: Hedge, Morgan Stanley's, Bill Meany, Morgan Stanley, Goldman Sachs, Ken Griffin's, Bill Ackman's Pershing, Dan Loeb's, Cliff Asness, AQR Organizations: Citadel, Apex, Equity Locations: Wellington

☆ Singapore state investor Temasek to focus on early adopters of AI in the U.S.; cautious on China
▼ + stars: | 2024-07-09 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

Singapore's Temasek said Tuesday most of its investment capital will keep going into the U.S. with the state investment company focusing on the early adopters of AI among traditional industries in the country. Temasek, which did not give an exact breakdown of its exposure to U.S. assets, said Americas region constituted 22% of its portfolio. The firm, whose portfolio value rose by nearly 2% to $389 billion Singapore dollars ($288 billion) in its financial year ended March, added that it was cautious on the Chinese market. Overall, Temasek will maintain a cautious approach and will continue to monitor government policies in the world's second largest economy, the state investor said. Chinese assets made up 19% of Temasek's portfolio, down from 22% in the 2023 financial year.

Persons: Rohit Sipahimalani, Chia, Hwee Organizations: Singapore's Temasek, CNBC, Temasek, Singapore, Companies Locations: U.S, Americas, China

☆ Go long Hilton and Walmart: HSBC's stock strategy for playing the divided U.S. consumer
▼ + stars: | 2024-07-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

Strong consumer demand has helped the U.S. economy weather the Federal Reserve's rate hikes, avoiding a hard landing where growth and employment turn lower. The high-end consumer Inui estimates the net worth of high-end consumers is actually accelerating to a high-single-digit rate. "As a result, discount retailers are facing high shrinkage, restaurants are becoming increasingly promotional to boost traffic and retailers with strong value propositions are gaining share." HSBC called McDonald's one of the stocks that offers "a strong value proposition" to consumers tightening their belts. Another retailer HSBC named was Target , which has an "expect more, pay less" strategy emphasizing private labels to boost sales.

Persons: HSBC's, Nicole Inui, Hilton, Marriott, Inui, Innui, — CNBC's Michael Bloom Organizations: HSBC, Viking Holdings, Worldwide Holdings, Marriott International, Royal, Motors Locations: U.S, Americas, Royal Caribbean

☆ Investors poured $1.6 billion into this riskier corner of the bond market in June, State Street says
▼ + stars: | 2024-07-09 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

However, investors were also content to ramp up credit risk, directing more than $1.6 billion into ETFs with underlying bank loans and collateralized loan obligations, or CLOs, State Street found. Big institutional investors can purchase bank loans — which lending institutions make to companies — and benefit from the loans' floating coupon rate. CLOs are similar to bank loans: These are pools of floating rate loans made to businesses, which can be non-investment grade. Bank loans and CLOs tend to have less price sensitivity to changes in rates, meaning they are short duration. "Rate policy is evolving and uncertain, and it's unlikely to be less cloudy as we get into the summer months."

Persons: Matthew Bartolini, CLOs, Janus Henderson, Bartolini Organizations: State, SPDR, SPDR Americas Research, Street Global Advisors, CLOs, AAA, SEC, Janus Henderson AAA CLO, CNBC, Bank Locations: CLOs, SPDR Americas, BlackRock

☆ The British Election
▼ + stars: | 2024-07-03 | by ( Mark Landler | ) www.nytimes.com time to read: +1 min

But Britain is likely to emerge from the election as an outlier. While the electorates in other countries are shifting to the right, British voters are expected to evict the Conservative-led government after 14 years, in favor of the center-left Labour Party. In today’s newsletter, I’ll explain why Britain is zigging while others are zagging. It included harsh budget cuts after the financial crisis of 2008, the Brexit vote of 2016, the Covid pandemic and a revolving door of prime ministers. Liz Truss lasted less than 50 days after the financial markets turned savagely against her proposed tax cuts.

Persons: Nigel Farage, David Cameron, Boris Johnson, Liz Truss, Rishi Sunak Organizations: Conservative, Labour Party Locations: Europe, Americas, Britain

☆ Oil inches higher on summer demand outlook
▼ + stars: | 2024-07-01 | by ( ) www.cnbc.com time to read: +2 min

That led analysts to forecast supply deficits in the third quarter as transportation and air-conditioning demand during summer draw down fuel stockpiles. WTI's recent rally may extend towards $85 a barrel if prices remain above the 200-day moving average at $79.52, he said. In the U.S., oil production and demand rose to a four-month high in April, according to the Energy Information Administration's (EIA) Petroleum Supply Monthly report published on Friday. Traders are watching out for the impact from hurricanes on oil and gas production and consumption in the Americas. In China, the latest manufacturing data did not bode well for oil demand in the world's no.2 consumer and top crude importer.

Persons: Brent, Tony Sycamore, Hurricane Beryl, Beryl, bode Organizations: Brent, U.S, West Texas, Organization of, Petroleum, U.S . Federal, Hezbollah, Energy, Petroleum Supply, Traders, Atlantic, National Hurricane Center Locations: OPEC, Europe, Israel, U.S, Americas, Windward, China

☆ Here are Monday's biggest analyst calls: Tesla, Nvidia, Verizon, Apple, McDonald's, Birkenstock, AT&T, Meta & more
▼ + stars: | 2024-07-01 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley reiterates Nvidia as overweight Morgan Stanley raised its price target on the stock to $144 per share from $116. "We are initiating coverage of Gauzy with a Buy rating and $18 12-month price target." Wells Fargo reiterates McDonald's as overweight Wells said it's standing by its overweight rating on shares of McDonald's. "We initiate coverage on Amkor Technology (AMKR, $10B market cap) with an Overweight rating and Dec-25 price target of $48." Raymond James reiterates Meta as strong buy Raymond James raised its price target on Meta to $600 per share from $550.

Persons: Morgan Stanley, Goldman Sachs, Goldman, it's, BIRK, ramping, Stifel, Wells, Tesla, JMP, Academy's, Piper Sandler, Piper, TD Cowen, W.R, Berkley, Snowflake, Raymond James, Rivian, Meta Organizations: UBS, Apple, Verizon, AT, Gannett, JMP, Sports, JPMorgan, Amkor Technology, Deutsche Bank, Walmart, Deutsche, Exchange, ICE, RBC, NextEra Energy Partners, Fox Corp, EV, Meta Locations: China, Taiwan, Asia, TFX, McDonald's, Rivian

☆ 10 things to watch in the stock market Monday including a defense of Abbott Labs
▼ + stars: | 2024-07-01 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

My top 10 things to watch Monday, July 1 Stocks are indicated higher Monday following a slight decline last week. The top-performing Club stocks in the second quarter had one thing in common: the AI trade. Morgan Stanley hiked its price target on Nvidia to $144 from $116, citing strong demand for Hopper generation chips in Asia ahead of the launch of the company's next-generation Blackwell platform. Deutsche Bank upped its price target on Walmart to $77 a share from $71. UBS upgraded Birkenstock to a buy rating from neutral with a $85 price target, up from $52.

Persons: Morgan Stanley, Tesla, Wells, Abbott, We've, Bernstein, Vertiv, Raymond James, Goldman Sachs, Snowflake, Jim Cramer's, Jim Cramer, Jim Organizations: Treasury, Nvidia, Hopper, Blackwell, Boeing, Jefferies, Barclays, Abbott Laboratories, Analysts, Eaton, Caterpillar, Cummins, GE Vernova, Deutsche Bank, Walmart, Fox, UBS, Jim Cramer's Charitable, CNBC Locations: Asia, Snowflake

☆ Chicken Soup for the Soul Entertainment Files for Bankruptcy
▼ + stars: | 2024-06-30 | by ( Sara Ruberg | More About Sara Ruberg | ) www.nytimes.com time to read: +1 min

Chicken Soup for the Soul Entertainment, the parent company of the movie rental company Redbox, which is known for its distinctive red kiosks, filed for Chapter 11 bankruptcy protection on Friday. In the filing, Chicken Soup listed debts of about $970 million, and total assets of about $414 million. It owes millions to entertainment and media companies, including Universal Studios, Sony Pictures and BBC Studios Americas, as well as some retailers, such as Walgreens and Walmart, according to court filings. Chicken Soup for the Soul was founded in 1993 by two motivational speakers, Jack Canfield and Mark Victor Hansen. Its original book, published more than 30 years ago, dispensed life advice and stories of overcoming obstacles with the hope that it would heal readers’ souls just as “chicken soup has a healing effect on the body of the ill.”

Persons: Jack Canfield, Mark Victor Hansen, ” Organizations: Soul Entertainment, Universal Studios, Sony Pictures, BBC Studios, Walgreens, Walmart, “

☆ An alphabet soup of 'electrified' vehicles awaits new car buyers as EV sales stall
▼ + stars: | 2024-06-29 | by ( Michael Wayland | ) www.cnbc.com time to read: +9 min

A car shopper today has their pick of traditional internal combustion engine (ICE) vehicles; mild-hybrid electric vehicles (MHEVs); hybrid electric vehicles (HEVs); plug-in hybrid electric vehicles (PHEVs); fuel cell electric vehicles (FCEVs) and battery-electric vehicles (BEVs), also commonly known as EVs. Here's a breakdown: Internal combustion engine (ICE): A "traditional" vehicle with an engine that's fueled with gasoline or diesel. Hybrid electric vehicle (HEV): Think of the Toyota Prius, a vehicle that has a hybrid powertrain system combined with an engine. Plug-in hybrid electric vehicle (PHEV) : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery. : These vehicles feature an internal combustion engine combined with a hybrid system, including a larger battery than traditional hybrid vehicles as well as a plug to recharge the vehicle's battery.

Persons: Paul Waatti, Heather Seymour, Seymour, Stellantis, Waatti, Michael Wayland, Antonio Filosa, Russell Wager, Jérémie Papin, BEV Organizations: DETROIT —, Pacifica, Toyota, CNBC, Motors, Chevrolet, Kia America, EV, Kia, GM, Detroit, GM Energy, Ford Motor, Auto, Nissan, ICE, Toyota Prius Locations: U.S, Stellantis, St, Johns , Florida, Detroit, Japan, South Korea, Germany

☆ It's not too late for Dems to choose another candidate. Here's how it would work.
▼ + stars: | 2024-06-28 | by ( Joshua Zitser | Sarah Gray | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewCan the Democrats replace President Joe Biden at the top of the ticket? In 1968, when President Lyndon B. Johnson dropped out of the race, his vice president, Hubert Humphrey, entered the Democratic primary, but he was too late to get on some states' ballots. Delegates eventually voted to name Humphrey the nominee, but he ultimately lost the election to former Vice President Richard Nixon. AdvertisementTypically, the vice president is the go-to individual, but Gift said Vice President Kamala Harris's approval ratings are too low for her to be a serious contender.

Persons: —, Joe Biden, Lyndon B, Johnson, Hubert Humphrey, Humphrey, Robert F, Kennedy, Eugene McCarthy, Martin Luther King Jr, John F, Richard Nixon, Biden, Mitch Robertson, Robertson, Thomas Gift, Kamala Harris's, Mark Shanahan, Gavin Newsom, Gretchen Whitmer, Transportation Pete Buttigieg, Shanahan, Harris, Kamala Harris, Iwan Morgan, Morgan, John Owens, it's, Owens Organizations: Service, Democratic, Business, Convention, Delegates, University College London, Democrats, UCL's Center, University of Surrey, Transportation, Trump, UCL's Institute of, Labor, American University's Center, Congressional, Presidential Studies Locations: Chicago, Vietnam, Los Angeles, Americas

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